Transfer of letters of guarantee

The Bank may, at the request of its peers, issue a letter of guarantee or standby letter of credit in favor of Bank of Communications or other banks in China for its clients' wholly-owned subsidiaries or equity participations registered in China, to guarantee the provision of financing in RMB or other foreign currencies by Bank of Communications or other banks in China to the enterprises, and to support the provision of extended services by its peers to its clients. Please note that this service is subject to the Bank's review. Please note that this service is subject to the Bank's review and we apologize if it is not approved. Please contact us for details.

Note: RMB is a currency subject to foreign exchange control. Please note that there is a risk of significant exchange rate fluctuations due to changes in the Chinese government's monetary policy, economic environment, market environment, political situation and policy trends and, in some cases, the risk of not being able to convert to other currencies.